Growing demand in Hungary’s property market comes from surprising places

Hungary’s residential property market has seen an unexpected shift in foreign demand following the recent elections.

Property market sees huge sudden demand from abroad

While overall international enquiries declined in line with earlier trends, interest from two wealthy nations, the United States and Switzerland, rose sharply, signalling renewed confidence in certain segments of the market.

According to data from ingatlan.com, the platform typically records between 3,000 and 4,000 weekly phone enquiries from abroad regarding homes listed for sale. However, the week after the elections brought notable changes in where that interest originated.

Strong growth from overseas hotspots

Switzerland stood out with particularly strong growth. As Portfolio reported, enquiries from Swiss property buyers increased by more than 25% compared to the previous month, representing a rise of over 43% year-on-year. Interest from the United States also surged, rising by 37% compared to the previous week, while annual demand climbed to one and a half times its earlier level.

Other countries, including Spain and Israel, also showed monthly increases, while smaller markets such as Greece, Cyprus and Finland recorded noticeable upticks after the elections.

Despite these shifts, the largest volume of enquiries continues to come from Austria, Germany and the United Kingdom, which together account for nearly half of all foreign interest. The UK, in particular, saw a 17% monthly rise, although demand remains slightly below last year’s levels.

Budapest remains the primary focus

Geographically, Budapest dominates foreign interest in the property market. Around 30% of all enquiries targeted properties in the capital, especially in districts II, VI and XIII. Other sought-after areas include districts III and XI.

Beyond Budapest, major regional cities such as Debrecen, Győr, Szeged and Pécs have also attracted attention, alongside border cities and university hubs. This suggests that foreign buyers are not only targeting the capital but are also considering economically active and education-driven regions.

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Mid-range properties in demand

Interestingly, most foreign buyers are not focusing on luxury real estate. The most popular price range falls between HUF 41 million and 80 million (approximately EUR 100,000–200,000). American buyers are particularly concentrated in this segment, while Swiss interest extends across a slightly broader range, up to HUF 120 million.

Overall, nearly three-quarters of all foreign enquiries concern properties priced below HUF 80 million, indicating a clear preference for mid-market opportunities.

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A mixed picture with potential economic impact

Experts note that it remains difficult to distinguish between foreign investors and Hungarians living abroad who may be considering returning home. The latter group could play a key role in addressing labour shortages and supporting Hungary’s economic growth if they choose to relocate.

Although overall foreign demand is still on a downward trend year-on-year, it looks like the post-election surge from key markets suggests that Hungary’s property sector continues to hold appeal—particularly for value-driven international buyers.

Featured image is illustration. Source: depositphotos.com